0000950137-06-014096 Sample Contracts

SECURITY AGREEMENT
Security Agreement • December 22nd, 2006 • Cardinal Ethanol LLC • Industrial organic chemicals • Nebraska

This Security Agreement (“Agreement”), dated as of December 19, 2006, is between CARDINAL ETHANOL, LLC, an Indiana limited liability company (the “Debtor”), and FIRST NATIONAL BANK OF OMAHA, a national banking association (the “Secured Party”).

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LUMP SUM DESIGN-BUILD AGREEMENT BETWEEN CARDINAL ETHANOL, LLC (“OWNER”) AND FAGEN, INC. (“DESIGN-BUILDER”) December 14, 2006
Lump Sum Design-Build Agreement • December 22nd, 2006 • Cardinal Ethanol LLC • Industrial organic chemicals • Minnesota

This LUMP SUM DESIGN-BUILD CONTRACT (the “Agreement”) is made as of December 14, 2006, (the “Effective Date”) by and between Cardinal Ethanol, LLC, an Indiana limited liability company (the “Owner”) and Fagen, Inc., a Minnesota corporation (the “Design-Builder”) (each a “Party” and collectively, the “Parties”).

DISTILLER’S GRAIN MARKETING AGREEMENT
Distiller’s Grain Marketing Agreement • December 22nd, 2006 • Cardinal Ethanol LLC • Industrial organic chemicals • Indiana

THIS DISTILLER’S GRAIN MARKETING AGREEMENT (the “Agreement”), is entered into effective as of December 13, 2006, by Cardinal Ethanol LLC., an Indiana Limited Liability Company (“Seller”), and Commodity Specialist Company, a Delaware Corporation (“Buyer”).

CONSTRUCTION LOAN AGREEMENT
Construction Loan Agreement • December 22nd, 2006 • Cardinal Ethanol LLC • Industrial organic chemicals • Nebraska

This Construction Loan Agreement (the “AGREEMENT”) is dated as of the 19th day of December, 2006, and is by and between CARDINAL ETHANOL, LLC, an Indiana limited liability company (“BORROWER”), and FIRST NATIONAL BANK OF OMAHA (“BANK”), a national banking association headquartered at Omaha, Nebraska.

ETHANOL PURCHASE AND SALE AGREEMENT BETWEEN CARDINAL ETHANOL, LLC AND MUREX N.A., LTD.
Ethanol Purchase and Sale Agreement • December 22nd, 2006 • Cardinal Ethanol LLC • Industrial organic chemicals • Indiana

This Agreement is made effective as of December 20, 2006, by and between Cardinal Ethanol LLC, an Indiana limited liability corporation, having its offices in Winchester, Indiana (“Seller”), and Murex N.A., Ltd., a Texas limited partnership with its principal offices of business in Addison, Texas (“Buyer”).

International Swap Dealers Association, Inc. MASTER AGREEMENT Dated as of : 12/19/2006
Master Agreement • December 22nd, 2006 • Cardinal Ethanol LLC • Industrial organic chemicals • New York

have entered and/or anticipate entering into one or more transactions (each a “Transaction”) that are or will be governed by this Master Agreement, which includes the schedule (the “Schedule”), and the documents and other confirming evidence (each a “Confirmation”) exchanged between the parties confirming those Transactions.

Space Above This Line For Recording Data] CONSTRUCTION LOAN MORTGAGE, SECURITY AGREEMENT, ASSIGNMENT OF LEASES AND RENTS AND FIXTURE FINANCING STATEMENT
Construction Loan Mortgage • December 22nd, 2006 • Cardinal Ethanol LLC • Industrial organic chemicals • Indiana

THIS CONSTRUCTION LOAN MORTGAGE, SECURITY AGREEMENT, ASSIGNMENT OF LEASES AND RENTS AND FIXTURE FINANCING STATEMENT (“Mortgage”) is made as of December 19, 2006, by CARDINAL ETHANOL, LLC, an Indiana limited liability company (“Mortgagor”), whose address is 2 OMCO Square, Suite 201, P.O. Box 501, Winchester, Indiana 47394 in favor of FIRST NATIONAL BANK OF OMAHA, a National Banking Association (“Mortgagee”), whose address is 1620 Dodge Street, Stop 1050, Omaha, Nebraska 68197-1050.

PROJECT DEVELOPMENT FEE AGREEMENT
Project Development Fee Agreement • December 22nd, 2006 • Cardinal Ethanol LLC • Industrial organic chemicals • Indiana

THIS PROJECT DEVELOPMENT FEE AGREEMENT (“Agreement”) is entered into as of this 13th day of December, 2006 (“Effective Date”), by and between Spiceland Wood Products, Inc., a corporation (“SWP”), and Cardinal Ethanol, LLC (“Company”), an Indiana limited liability company.

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